Thailand considers VAT rise to 8%

Mon 1st Apr 2013

The Bangkok government is again considering a rise in its Value Added Tax rate from 7% to 8%.

Thailand’s VAT rate has been held at the ‘temporary’ lower 7% rate for a number of years, and come under the spotlight once a year.  Whilst Thailand has one of the lowest consumption tax rates in the world, the economy is still considered too fragile to take a rise in the tax rate.

There are number of large infra-structure projects underway at the moment, and their completion may be considered an ideal time to increase the rate.

Japan has announced recent plans to raise its Consumption Tax rate to 10% by 2015